MONEY FOR NOTHING?
Some companies may offer you an income stream — not for part of the existing value of your home — but in return only for its capital appreciation.
This may sound very attractive. (Almost too good to be true?)
These agreements, called property options, are generally valued very conservatively though. The income you receive will probably be much lower than the capital appreciation of your home which you are giving up.
Switching home loans could save you money and give you the flexibility you need to allow you to better manage your finances, but you may end up worse off if you’re not careful. Read Refinancing Pros and Cons before you decide.